A single supplier of a good or service for which there is no close substitute is referred to as a(n)
A) strategic competitor.
B) monopoly.
C) oligopoly.
D) monopolistic competitor.
B
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NIPA means
A) New Income and Price Accounting. B) National Investment and Productivity Approach. C) Neutral Increase of Production Allocation. D) National Income and Product Accounts.
If the interest rate is below its equilibrium value, the price of
a. bonds will fall. b. money will fall. c. bonds will rise. d. stocks will fall. e. real estate will fall.
Among the methods of nonprice rationing are
A. waiting in line. B. coupons. C. favored customers. D. all of the above
In a 50-firm industry, two of the smallest firms merge. Yet the 4-firm concentration ratio and the 8-firm concentration ratio did not change. All things considered, we can say that the industry has
A) moved closer to pure competition because the number of firms decreased. B) moved farther away from competition because the number of firms decreased. C) experienced no change in competition even though the number of firms decreased. D) to be identified first; otherwise there is no way to tell.